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Friday, 28 August 09
COAL MINE BUYERS DUST OFF THEIR CASH ( ANALYZED BY REUTERS)
 * Coal asset buyers give up waiting for bargains
* Mining majors expected to buy not sell
* South Africa a target, Indonesia less so
By Jackie Cowhig
Sales of coal mines across the globe will quicken now that end users and traders, particularly from India, rush to buy before prices start to turn higher.
The bonanza of coal mine sales forecast early this year failed to materialise because prices did not drop as sharply as buyers hoped, said analysts and companies chasing coal assets.
"Towards the end of this year and next year I think you'll see more deals done," said Peter Doyle, Head European Coal Consulting firm Wood Mackenzie. "On the M&A front I think the market has remained relatively subdued, perhaps buoyed by seaborne coal prices not sinking as low as some had forecast."
More metals mines too were expected to change hands.
"Most people are coming round to the view that the worst is over and starting to plan for the future," said Tim Williams, director in mining and metals Ernst & Young.
Mining majors such as BHP Billiton are cash-flush and expected to look more aggressively at buying assets, analysts said.
The value placed by sellers on coal mines has fallen by around 50 percent from $2.00 a tonne during the past 12 months based on proven reserves to $1.00, but this is still more than most buyers would accept.
"The prices asked for second and third-rate mines are probably double, even now, what we'd think is reasonable. But it's now or never," one major coal trader said.
"Even at $1.00 a tonne based on reserves this is expensive but if you take the view, which we do, that we must buy our own mines to secure long-term supply then it is reasonable," said a source at an Indian company firmly on the acquisition trail.
Indian end-users of both coking coal and steam coal have been seeking mines. Jindal Group and Tata have invested in Africa, Indonesia and Australia. Chinese companies are investing all over Africa, although not at the pace expected.
Many traders too around the world who aim to build a coal book of substance are aleady heavily pursuing assets.
Singapore-listed commodity trader Noble Group's purchase of Australia's Gloucester Coal was cited as a good value purchase by rival traders.
Trading giant Vitol Group is to take over Canadian producer Hillsborough Resources Ltd.
Vitol was expected to buy thermal coal mines in key producers during the next few years, industry sources said.
Swiss Glencore remains a giant in the world coal market partly because, its rivals freely admit, it is as much a producer as it is a trader through its ownership of huge, low-cost mines and its stake in Xstrata.
INDONESIA APPEALS LESS, S.AFRICA IS FOCUS
Recent and new entrants to the coal market are struggling to find working mines for sale which are, or have potential to be, large-scale, low-cost and have transport links to ports.
"There are some high-quality coal reserves left in Indonesia not owned by the major players but they are in Central Kalimantan a long way from any river, to move coal to the ports," said an Indian trader trying to buy Indonesian mines.
"And these are small-scale. There's only low-quality reserves left but the costs doesn't work into India," he added.
Indian companies, including Jindal, bought remote Indonesian mining concessions but these became loss-makers when prices for their low energy content coal fell below cash costs.
South Africa is increasingly the focus for Indian traders and end-users.
Jindal Steel & Power part of the Jindal Group in July bought South Africa's Kiepersol mine.
Buyers said they still hoped to find small to medium-sized South African mines at the higher end of the cost curve which may struggle to survive at current prices.
Failing that, some keen buyers said they are looking for undeveloped greenfield coal reserves in Africa which would take up to 10 years and huge investment before generating cash.
"If you take a longer-term view and do expect another commodity boom in several years' time, this kind of investment makes sense," one would-be buyer said.
Source: Forexyard
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Saturday, 05 September 09
SHANXI AIMS TO MAINTAIN 2009 COAL OUTPUT AT LAST YEAR'S LEVEL
Interfax-China reported that, Shanxi Province, the country's second-largest coal producing region, is aiming to keep its annual coal output a ...
Saturday, 05 September 09
INDIA BUYING INTO AUSTRALIA'S COAL - INTERVIEW
India is in line to buy vast amounts of Australian coal. An Indian cabinet minister is on a special mission to Australia to help satisfy India's ur ...
Saturday, 05 September 09
52 COMPANIES SUBMIT EOIS TO COAL INDIA
The Hindu, India's largest English news paper reported that, International mining majors from the U.S., South Africa, Australia and Indonesia are a ...
Friday, 04 September 09
INDONESIA PAITON ENERGY BUYS COAL FROM ADARO, KIDECO
PT Paiton Energy, an Indonesian independent power producer, has agreed to buy 3 million tonnes of coal from PT Adaro Energy Tbk (ADRO.JK) and PT Kid ...
Thursday, 03 September 09
ICVL IN TALKS FOR COAL BLOCKS IN INDONESIA
These acquisitions will help ICVL meet an internal target of importing at least 5 million tonnes (mt) of coking coal by 2012-13
LiveMint reported ...
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- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
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